US trade deficit expanded in August

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Source: Bloomberg
© Scanpix/FP
The U.S. trade deficit expanded in August due to weakening global economic growth, which decreased demand for U.S. exports. According to Commerce Department, the gap increased 4.1% from $42.5 billion in July to $44.2 billion. Exports fell to the lowest since February. Debt-stricken Europe, China's and other emerging economies' slower growth may curb demand for U.S. products.  

"For the first time, the U.S. economy is gradually feeling the impact from the global growth slowdown," said Harm Bandholz, Chief Economist at UniCredit Group. "In the third quarter, the weaker global economy will leave its mark also on the U.S."

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